FINANCIAL WOES FOR RELATED GROUP.Byline: Jason Takenouchi Staff Writer A company related to Henry Mayo Newhall Memorial Hospital, the for-profit Santa Clarita Valley The Santa Clarita Valley is the valley of the Santa Clara River in Southern California. It stretches through Los Angeles County and Ventura County. Its main population center is the city of Santa Clarita. The valley was part of the 48,612-acre (19,672. Health Care Management Group, is also losing millions of dollars, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. records. The group is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Santa Clarita Health Care Association, a nonprofit headed by Duffy Watson, the longtime president of Henry Mayo Newhall Memorial Hospital. The association also oversees the Henry Mayo Newhall Memorial Health Foundation, another nonprofit that raises money for the hospital. The for-profit management group, which does business as SCVMC SCVMC Sons of Confederate Veterans Mechanized Cavalry (motorcycle club) Inc., lost $315,568 in the year ended Sept. 30, 1998, according to its parent company's filings with the IRS. Over the past three years, SCVMC has lost more than $3.6 million. A 1998 record filed with the Los Angeles County Recorder's Office lists hospital chief financial officer David Tumilty as president of SCVMC. Watson is listed as SCVMC's vice president. Watson and Newhall Memorial spokeswoman Janice Newbold declined to comment on the status of SCVMC. |
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